In this photo provided by the New York Stock Exchange, traders gather at a post on the floor of the NYSE during the DoorDash IPO, Wednesday Dec. 9, 2020. DoorDash shares soared 78% as the meal delivery service made its debut Wednesday on the New York Stock Exchange. - AP
NEW YORK: DoorDash Inc shares popped more than 80% in their debut on Wednesday, valuing the food delivery company at US$71.3 billion or more than four times its worth at a private fundraising round six months ago, underscoring investor appetite for technology companies boosted by the COVID-19 pandemic.
Shares opened at $182 on the New York Stock Exchange, significantly above the initial public offering (IPO) price of $102 apiece and closed at $189.51. The company had raised $3.37 billion in its IPO on Tuesday.
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